Funcom Former CEO Under Investigation, Insider Trading

September 14th, 2012 Connor

I’m happy to see that I am not the only person who was baffled when Funcom’s CEO Trond Arne Aas suddenly up and flew the coup before the launch of The Secret World. As many of you already know, Funcom’s stock tumbled following the launch of The Secret World, from $17 to $2.23. Luckily, and perhaps in a well timed move, Trond was able to sell off 650,000 shares, possibly with the knowledge that The Secret World would fail to meet even Funcom’s lowest expectation of sales.

And if you are thinking, “gee, Omali. That sounds a lot like insider trading,” you would be correct. According to an insider at Funcom, reported to The Escapist, Trond Arne Aas is under investigation by Norway’s Financial Services Authority and OSE. Aas is claiming that, as he had stepped down as CEO, he had no access to sales figures until Funcom posted its latest financial details.

The source states that he would not be surprised if Aas ultimately winds up in jail.